Peninsula Uranium CEO plans to step down
Australia-based Peninsula Energy has confirmed that its MD and CEO, Wayne Heili, will step down next year, triggering the start of a formal succession planning process.
Heili’s decision comes as the company continues to make progress on its Lance uranium project in Wyoming, US, though it has slightly revised its 2025 production guidance.
In an update released on Friday, Peninsula lowered its uranium production forecast for 2025, with the Lance project now expected to produce 600 000 lb of uranium oxide in its ramp-up year. This is a reduction from earlier projections of 700 000 lb to 900 000 lb. The company cited delays in the preconditioning of the newly developed header house at Mine Unit 3, though it confirmed that these issues have been resolved.
“While some aspects of the project development are slightly lagging earlier projections, it is pleasing to know there are no indications that the impacts will extend beyond the initial ramp-up phase,” said Heili, who reassured investors that the delays would not affect the project’s production targets for 2026 or 2027, which remain in line with previous estimates.
Heili’s decision to step down next year comes after "considerable reflection" and a desire to adopt a “more moderately paced lifestyle” than what his current role demands.
He also stated that with the Lance project nearing production, it was the right time to transition leadership to a new CEO who could bring “fresh eyes and a different balance of skills” to help Peninsula meet its future goals.
Peninsula also revealed that it is in the final stages of negotiations with a new COO and expects to make an announcement soon.
The Lance project will restart production before the end of next month.
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